Uber reports solid earnings, mixed guidance

Uber reported third-quarter earnings Tuesday.

11/4/25 7:10AM

Uber reported largely solid earnings this morning, posting revenue of $13.5 billion compared with the FactSet analyst consensus of $13.28 billion and up 20% from a year earlier. The company reported earnings per share of $3.11 versus the expected $0.69, but this includes a $4.9 billion boost to net income from a tax valuation release and another $1.5 billion (pretax) lift from revaluations of its equity investments. Adjusted EBITDA of $2.26 billion was a touch shy of estimates for the quarter.

Gross bookings, or what customers spent on rides, delivery orders, and freight, grew to $49.7 billion, up 21% from last year and higher than analysts’ expectations of $48.95 billion.

However, shares are down in premarket trading as guidance was mixed: while Uber sees gross bookings in Q4 ranging from $52.25 billion to $53.75 billion, ahead of consensus, that isn’t translating into the kind of profitability the Street was expecting. The midpoint of its adjusted EBITDA range of $2.41 billion to $2.51 billion for Q4 is below the consensus estimate for $2.49 billion, per analysts polled by Bloomberg.

During the company’s earnings call this morning, investors will be looking for more details on the company’s robotaxi rollout. Shares of both Uber and EV partner Lucid jumped last week after the two announced their first robotaxi market would be San Francisco, where Google’s Waymo is currently operating.

Jon Keegan7h

White House releases AI legislative framework

The White House has released its policy wish list for AI legislation — and what it wants excluded.

Still, the odds of any actual AI regulation getting passed in Congress right now are very slim.

The “National Policy Framework” for AI lays out seven issues that the Trump administration wants to see reflected in any congressional action around AI.

The items listed in the framework include:

Child safety protections, age verification, and parental controls for AI.
Data center projects voluntarily pay their own way when it comes to power, but incentives should still be encouraged.
Copyright laws should allow for training models on copyrighted works, while protecting individuals’ voice and likeness.
Free speech should be defended for AI systems, preventing the government from pressuring companies to ban or alter content based on partisan agendas.
A light touch to regulation to encourage innovation, and no federal agency to regulate AI.
American workers vulnerable to AI job replacement should be retrained and supported.
Federal AI rules should preempt any state AI legislation to prevent a patchwork of laws that companies would hate.

The policy list is the latest in a series of proposals from the AI-friendly Trump administration.

President Donald J. Trump Unveils National AI Legislative Framework

The items listed in the framework include:

Child safety protections, age verification, and parental controls for AI.
Data center projects voluntarily pay their own way when it comes to power, but incentives should still be encouraged.
Copyright laws should allow for training models on copyrighted works, while protecting individuals’ voice and likeness.
Free speech should be defended for AI systems, preventing the government from pressuring companies to ban or alter content based on partisan agendas.
A light touch to regulation to encourage innovation, and no federal agency to regulate AI.
American workers vulnerable to AI job replacement should be retrained and supported.
Federal AI rules should preempt any state AI legislation to prevent a patchwork of laws that companies would hate.

The policy list is the latest in a series of proposals from the AI-friendly Trump administration.

SPACE

CASE

Rani Molla, Nate Becker7h

Jon Keegan9h

WSJ: OpenAI rolling everything into one desktop “superapp”

OpenAI is trying to eliminate distractions and focus on building AI that helps with enterprise productivity tasks like coding and organizing spreadsheets.

As part of that effort, the startup is consolidating some of its “side quests” into one “superapp,” according to a report from The Wall Street Journal.

The plan is to merge ChatGPT, Codex, and the Atlas browser together, as it seeks to focus its efforts as it competes with Anthropic and Google for lucrative enterprise customers.

OpenAI Head of Apps Fidji Simo told staffers in an internal memo that “we realized we were spreading our efforts across too many apps and stacks, and that we need to simplify our efforts. That fragmentation has been slowing us down and making it harder to hit the quality bar we want,” per the report.

Exclusive | OpenAI Plans Launch of Desktop ‘Superapp’ to Refocus, Simplify User Experience

The plan is to merge ChatGPT, Codex, and the Atlas browser together, as it seeks to focus its efforts as it competes with Anthropic and Google for lucrative enterprise customers.

Rani Molla

Semi charmed

10h

What we know about Tesla’s Semi truck as production nears

Musk says “high-volume production” will start this year. Wall Street thinks that’s more like 5,000 to 15,000 trucks.